Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 15 billion on Thursday on behalf of the Ministry of Finance.
The first tranche of the T-bills will be offered through 182-day notes worth EGP 7.5 billion, while the second tranche reaches EGP 7.5 billion and will be offered through 364-day notes, the CBE said on its official website.
The issuance will be used to finance the country’s budget deficit. State-run banks are the top purchasers of the government debt instruments.
Earlier, the finance ministry revealed a possibility of accepting less bids for treasury bills and bonds denominated in the Egyptian pound until the end of fiscal year 2019/2020 after securing a $2.7 billion loan from the International Monetary Fund (IMF) under the rapid financing instrument (RFI).
On Friday, Egypt reached a staff-level agreement with the IMF on a $5.2 billion standby loan.
